Malaysia Morning News For October 23

Malaysia’s Sept inflation rate seen picking up to 0.8% y-o-y
Malaysia’s consumer price index (CPI) likely rose 0.8% from a year earlier in September, a Reuters poll showed on Monday, accelerating from the previous month after a new tax regime came into effect.
— The Edge Markets

From Jan 1, Malaysia’s solar power users to enjoy cheaper electricity bills
Domestic and commercial users of solar power will enjoy cheaper electricity bills from Jan 1 under two new policies, says Yeo Bee Yin.
— The Nation

Malaysia’s international reserves fall to $102.8 bln as of Oct. 15
Malaysia’s gross international reserves edged down to $102.8 billion as of Oct. 15, from $103 billion as of Sept. 28, the central bank said on Monday.
— Reuters

Double taxation under SST may prompt exit of international firms
A public relations consultant has suggested that international marketing communications firms will exit Malaysia if the cost of doing business here rises drastically.
— New Straits Times

Najib: Govt unlikely to recover RM10 bil from scrapping ECRL
Former prime minister Najib Razak has cast doubts over the Pakatan Harapan (PH) government’s claim that it will be able to recover RM10 billion from the cancellation of the 20%-completed East Coast Rail Link (ECRL) project.
— FMT

Corruption now a thing of the past in Malaysia, says Mahathir
Corruption in Malaysia has become a thing of the past following the change in government, said Prime Minister Mahathir Mohamad.
— Channel NewsAsia

Key challenges and opportunities in Malaysia’s e-commerce scene
Malaysia is one of the fastest-growing e-commerce markets in Southeast Asia. The industry kicked off in 1998 with the launch of Lelong, followed by AirAsia, eBay and iPay88.
— Yahoo News

The State of the Nation: Restarting Malaysia’s digital path
MANY Malaysians would know of Skype but may not have heard of Estonia, the post-Soviet nation in Northern Europe, until last Tuesday. Skype, the internet phone service that Microsoft acquired in 2011, was developed in Estonia’s capital Tallinn, a cobblestoned old town with medieval buildings (about half the size of Penang Island) where about a third of Estonia’s 1.3 million people live.
— The Edge Markets

Malaysia retains stable C rating for retirement income systems index
The Netherlands and Denmark offer A-Grade world class retirement income systems with good benefits, while Malaysia retains its C rating, according to the Melbourne Mercer Global Pension Index.
— New Straits Times

Pilot project to turn waste into energy in Malaysia
The government plans to carry out pilot projects at landfills in three states with a view to turning such facilities into waste-to-energy (WTE) plants.
— New Straits Times

Businessman fined RM2,000 for assaulting petrol station attendant in Malaysia
A 25-year-old businessman was fined RM2,000, in default five months’ jail, on Monday (Oct 22) for voluntarily causing hurt on a petrol station attendant.
— Channel NewsAsia

Coal rally a headache for Malaysia power firms
Despite some price retracement in the past two months, global coal prices remain high after rallying over 30% from a low of US$92 per tonne in April to US$120 per tonne in July.
— The Star Online

Property prices continue to fall, down 2.5% year on year in Q3: PropertyGuru
Asking prices of homes in Malaysia continue to drop nationwide, according to the PropertyGuru Market Index (PMI), which revealed that asking prices by real estate developers and individual owners nationwide declined 2.5% year on year in the third quarter of 2018 (Q3 2018), or a 1.8% decline from the preceding quarter.
— The Sun Daily

Budget 2019: Can it solve some of Malaysia’s housing woes?
Owning a home is a priority for many Malaysians who await each year to see if the federal government will introduce measures in the Budget to make such a dream more achievable.
— Yahoo News

How to give private investment in Malaysia a push?
MALAYSIA’S private investment growth has displayed weakening trends since 2012, with its growth moderating from an annual rate of 21.4% in 2012 to 4.3% in 2016, before gaining traction to 9.3% in 2017.
— The Star Online

Paynet to launch DuitNow money transfer service in December
Some 40 local and foreign banks are expected to offer DuitNow, a new electronic payment service from Payments Network Malaysia Sdn Bhd (PayNet).
— New Straits Times

Tougher times ahead for banks, says CIMB Research
CIMB Equities Research sees tougher times ahead for banks as they have to grapple with other earnings risks, such as weak business loan growth and margin erosion.
— The Star Online

GKN Aerospace has officially opened its repair and research facility for aero-engine systems in Johor, Malaysia
The company’s engine systems leadership came together with federal and state government officials from Malaysia, as well as investment partners and customers, to recognise GKN Aerospace’s establishment in the region and the importance of growing the aerospace market in Southern Malaysia.
— Aero Space

Kenaf industry to generate RM3.5b revenue globally by 2025
The Kenaf industry is expected to generate a revenue of about RM350 million and RM3.5 billion domestically and globally by 2025.
— New Straits Times

Malaysia continues to call for South China Sea to be a free zone
Defence Minister Mohamad Sabu said Malaysia would continue to insist on the South China Sea to remain a free zone from any military competition and enhancement.
— Borneo Bulletin

Why The 1MDB Scandal Is Set To Get BIGGER STILL
Is the 1MDB scandal essentially a rip-roaring yarn about a brilliant young lad from Penang, who bamboozled a corruptible prime minister, fooled the world’s banks and managed to pull of a series of record billion dollar heists?
— Sarawak Report

Large-scale projects, net metering and solar leasing for Malaysia
Malaysia has unveiled new measures to drive solar power after bringing the curtain down on its solar FIT, citing PV power’s rapid approach to grid parity in the nation.
— PV Magazine

Minister: Malaysia could claw back RM10b from China firm if ECRL axed
Malaysia Rail Link Bhd (MRL) could recoup RM10.02 billion from China Communications Construction Company Ltd (CCCC) if the government decides to abandon the East Coast Rail Link (ECRL) project.
— Malay Mail

HSBC Malaysia headquarters on the market
AHEAD of the completion of its new RM1 billion headquarters in the Tun Razak Exchange (TRX), HSBC Bank Malaysia Bhd has placed Menara HSBC South Tower (which currently houses its main office) up for sale.
— The Edge Markets

FMM hopes govt move to boost coffers won’t add to burden
The Federation of Malaysian Manufacturers (FMM) in congratulating the government on tabling a comprehensive and pragmatic mid-term review plan last week, hopes that proposals to increase government revenue as part of fiscal consolidation would not lead to additional and unnecessary regulatory burden to the manufacturing sector.
— The Sun Daily

IGEM ends with partnerships to grow green economy
The 9th International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2018) organised by the Ministry of Energy, Science, Technology, Environment & Climate Change (MESTECC) ended on a celebratory note as several partnerships were forged in terms of business leads, technology transfer and innovation, reinforcing IGEM’s position as the regional hub for green technology.
— The Borneo Post

No need to revamp our higher education system
Many may be horrified by the title of this piece. But think about it; there is no need to revamp our higher education system, because there is a system already in place.
— FMT

Malaysia arrests 8 Vietnamese for liquor, wildlife trafficking
Eight Vietnamese fishermen have been arrested for smuggling over $72,000 worth of liquor and exotic animals, the Malaymail reported Saturday.
— VnExpress

Guan Eng clears up Najib’s ‘confusion’ over land sales
Lim Guan Eng today clarified that land the DAP-led Penang government sold when he was the chief minister did not include lots that were earmarked for economic and national development.
— FMT

Towards a smoke-free Malaysia — IMAM, FIMA, GCM, IH
We refer to the statement of the Minister of Health, Datuk Seri Dzulkefly Ahmad: Cigarette prices to go up, minimum age to buy alcohol raised to 21.
— Malay Mail

Feature photo One Bonsai

This week’s Malaysia morning news feature photo acknowledges World Day for Audiovisual Heritage, October 27.

Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Malaysia morning news by AEC News Today is your one stop source for Malaysia news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.